Bingham v. Commissioner
United States Tax Court
Under the facts, certain legal and miscellaneous expenses paid by petitioners held to be deductible from gross income as "Non-Trade or Non-Business Expenses" under section 23 (a) (2) of the Internal Revenue Code as added by section 121 of the Revenue Act of 1942.
1Opinion of the Court
OPINION.
Tyson, Judge:
The parties have stipulated that $184,874.62 of the expenses in question were ordinary and necessary expenses paid during the taxable year for the production or collection of income or for the management, conservation, or maintenance of property held for the production of income, and respondent, on brief, concedes that such amount is deductible. We accordingly hold that those expenses are deductible from petitioners’ gross income.
The question is then presented as to whether the other expenses of $25,867.31 are also deductible from petitioners’ gross income.
Petitioners’…
2Cases cited1 opinion
- Ernst Kern Co. v. CommissionerUnited States Tax Court · 1942
3Cited by24 opinions
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Hochschild v. CommissionerUnited States Tax Court · 1946
- Fayen v. CommissionerUnited States Tax Court · 1960
- Farris v. CommissionerUnited States Tax Court · 1954
- Dileonardo v. CommissionerUnited States Tax Court · 2000
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